US Dollar Index Extends Uptrend as Wave 5 Targets 101U.S. Dollar Currency IndexTVC:DXYew-forecastThe US Dollar Index (DXY) continues to trade within a well-defined uptrend, with recent price action reinforcing a bullish outlook on the 4-hour chart. The latest recovery appears impulsive in nature, following a controlled pullback toward the 99.00 level, which aligns closely with the 38.2% Fibonacci retracement. This retracement structure suggests the formation of a classic Wave 4 correction within a larger impulsive sequence. From this support zone, the market has resumed higher, indicating that Wave 5 may now be underway. Additional confirmation of bullish momentum comes from the recent breakout above the upper boundary of a downward-sloping corrective channel. This technical development typically signals the end of a correction and the continuation of the prevailing trend. As long as price action holds above the 99.00 support area, the focus remains on further upside, with the next key target seen near the 101.00 level. This zone could mark the completion of the current impulsive structure. However, traders should remain cautious as the market approaches this resistance. A completed five-wave sequence would likely be followed by a broader ABC corrective phase, potentially driving the index back toward the 99.00–98.00 support region. In summary, the short-term outlook for the Dollar Index remains bullish, but signs of exhaustion near 101 could open the door for a corrective pullback in the sessions ahead.